Yes. and because the progressive shortening of the standard workweek has been blocked, considering that productivity = output/hours.
On Wed, Mar 9, 2016 at 3:02 PM, Eugene Coyle <[email protected]> wrote: > Tyler Cowan, writing in the NYT feature “The Upshot” dated March 4, 2016, > opens his essay with this sentence: > > > American middle class wages haven’t been rising as rapidly as they once > were, and a slowdown in productivity growth is probably an important cause. > > > > The reverse is obviously more correct: > > If wages were rising for a time there would be more investment in > labor-eliminating technology to fight wage gains, and the productivity > number would be higher. > > Productivity improvement has slowed because wages have stopped going up. > Robert Gordon and Tyler Cowan are wrong. > > Gene > > > > > > > > > > > > > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > -- Cheers, Tom Walker (Sandwichman)
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